Based on Randall's presentation of yesterday, linkage of DISH with AT&T in some shape and form seems very probable. Randall has an unlimted appetite for what else, SPECTRUM with which I wholeheartedly agree.
I agree that Randall is lusting for DISH's unused spectrum which, by the way, DISH says it fully intends to use for its planned build out of a commercial LTE network.
That said, if they are courting each other, T & DISH would have to find some creative way to implement the linkage. I say that because I don't see a merger in the cards given the regulatory approval that would be required by the current cast of characters in D.C.
Since DISH does not seem overly interested in parting with any of its spectrum, I'm not sure what the linkage would look like.
As you correctly pointed out, a merger of any kind is simply out of the question but there can be other ways to utilize both companies combined strengths. Surely DISH isn't going to start their operations from ground zero. They have to link with an established major telecom services provider where the choices narrow down to two.
On an altogether different front, I expect AT&T to make a major announcement in international markets, possible buyout of firms owned/controlled by Carlos Salinas (I hope I got his last name correct). Often times, Randall speaks of Carlos very highly.